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Us 11, Colorado 9, China 6, United States 5, Durbin 4, Delta 4, Liz Claman 4, Nicole Petallides 4, Samsung 4, Jamie Dimon 3, Nicole 3, New York 3, America 3, Al D'amato 3, S&p 3, Samsung Galaxy S4 3, Siemens 2, Vatican 2, Cheryl Casone 2, Jaime Dimon 2,
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  FOX Business    Markets Now    News/Business.  
   Business news. New.  

    March 15, 2013
    11:00 - 1:00pm EDT  

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hell about investment advice? >> thank i am a wino i will go collector wines. charles: that is hard for the average person. >> you read in and said the -- steady like any other investment. >> i agree. that would be much more fun but of if i was realistic in the united states it would be spirits take jeff flock is at the jim beam facility. this is something we're making right now. everything is centered around cocktails'. charles: is that recession-proof? irish whiskey up for represent. >> as they should be.
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[laughter] >> although with all the money in pornography wall street will not touch it. there will not go there. charles: one company does the strip club but you are right to with the spirits. a buddie you feel badly with a conscience point* of view? >> all of these have been during responsible. >> that is the lawyers and talking. >> i don't thank you need to feel guilty. >> some people call them a cent -- it the syntax. >> i think gambling on line
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will explode now i will pass it over. >> the last word of the week. a lot of degenerates. high dam, a chain congressional hearing focused on a senate report following jpmorgan huge trading loss. another carnival ship having power problems returning to port in the cyber threat calling for constructive talks with united states and investing advice continues with the legalization of marijuana. how much is the war are in this costing our government? >> i know jeff flock is with
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jim beam like the world just worked -- will go to durbin but that is why they reduce alcohol content because they had trouble to meet demand because that was idiotic. marijuana is a story in also stocks and every 15 minutes with nicole petallides at new york stock exchange. >> we are not used to seeing red with eight record consecutive closes the is to be 500 shy of the all-time high. pulling back a little today, a jpmorgan under scrutiny now down to%
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until, of rice said, at&t, general electric, oil and gold are gaining. bank of america doing the pullback also bowing is up pulling out the reminder. connell: our business coverage will continue today we will focus on questions of legalization of marijuana legalizing it could save the government 13 point* $7 billion per year are first guest today from the reagan administration thank you for joining us. really get the economic possibilities of the
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discussion with the legalization but you say it is too big of a health risk. cigarettes and the alcohol are legal -- legal wisner one a different? >> to thinks he will save money is a psychotropic drug jute impairs the ability to make sure decisions and impairs the immune system with 45,000 young people going into the emergency room every year and it is growing. you have no way to you determine the impairment "on the road" or measure or enforce it increases more accidents. connell: you did not mention the name of their product you were talking about i think i could have said maybe you are talking about
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alcohol. that is a huge business so what is the difference? >> alcohol is water soluble our body disposes of it but marijuana is in the fat cells the mammary glands, the brain, the fat cells you can measure impairment 48 hours after smoking one joint. by walking in with the hangover you can pick it up to cannot pick it up with marijuana. it is the dangerous drug. connell: then what about cigarettes? and they're obviously dangerous and they cause cancer and tobacco a huge business with the taxes generated and the tobacco companies but there is not a
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comparison there? >> we know marijuana contains more cancer causing compound that cigarette. it is proven over and over. if they say it medical marijuana if you have cancer the oncologist says stop smoking there is a comparison. tobacco does not your ability for distance, make decisions, short-term memory for learning. in a complex society union workers that are astute and can learn. connell: i'm glad we started off with you know we will talk the politics and economics but carlton turner with health concerns to start us off. thank you. dagen: . dagen: moving to new
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jpmorgan now capitol hill again as the senate panel holds a hearing revolved around a trader. >> $6 billion in losses -- losses last year but they said they believe the rest of the portfolio was absorbed to other portions of the bank and a lost more money than that. charging jpmorgan chase with manipulating models this is a bipartisan bashing session >> a few traders in their boxers will not be enough to have the additional appetite for risky bets to stop the excess it is another shameful demonstration of a bank engaged in risky behavior. >> some members of the
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london team failed to evaluate positions properly and in good faith minimized projected losses and hid important information. >> that is the headline was -- witness jaime dimon is not testifying today. @%e committee says they have everyone they need but in the end they will reach out to him. this is a statement saying. >> we cooperated fully with the subcommittee staff and welcome the opportunity to answer questions. we have made many mistakes and have identified many issues cited in the report and have taken significant steps for the issues and learn from them. connell: rich and said. of now let's go to president and chief investment officer specializing in financial stocks from rochester new
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york. good to see you. why is the senate now presenting the report and growing executives? >> why aren't they fixing the budget? second, mr. delaware they had buyback of the stock so the fed feels comfortable they could spend capital to return now to shareholders. clearly the regulators have a responsibility and they have worked together to solve the responsibilities. but at this point* those doing the investigation i am not sure can spell the word derivative. they're wasting their
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buddies time. goldman sachs last year they spend millions of taxpayer dollars a achieved nothing. the regulators are doing their job and nobody questions the fed's -ompetency this is the politician trying to get reelected again. dagen: looked at this report. it is dealing with internal warnings and they allege they misled investors in regulators. they're not there with risk-management what is left to do? one. >> the fed as jpmorgan and goldman sacks to resubmit the capital plan and some of that is how they view rest or methodology. clearly what they shared well before the stress test
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the capital ratio looked stronger than the fed stress test but they return capital so it is important for the regulatory bodies to do their work and clearly the sec because earnings are stated. said to have this public hearing does not accomplish anything. dagen: i get the feeling these senators are exhausted by jaime dimon they don't know how to do with them. do you own and jpmorgan? >> guide to own some. i think it is one of the best in the business i'm happy to increase the dividend but it is a strong
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company with great market share. it is a good long-term investment. dagen: good to see you. connell: more trouble at sea mechanical problem with a carnival cruise ship. dagen: send me a ticket and i will tear it up for free. the world's top durbin producer will sweeten the drink with the space of products. jeff flock will tell you about it. >> do they have been asked durbin out there to meet demand? i will talk exclusively to jim beam great-grandson himself. his pitcher is on the
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bottle. check it out. durbin. their brown liquid. love it. ♪
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>> alcohol one vice that the balls so how do spirit companies satisfied and a thirst for a variety? jeff flock is live at jim beam in kentucky with said dave long "the business of vice'. >> they're not drinking more but better.
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look at the red caps fed is the stuff they sell in the bar. i have the dutch treat for you because this seventh generation of the lead jim beam family great-grandson himself, you see a boom in bourbon? >> it is great. people love it there has been consistent growth and can it continue? >> that is the future. extract aging. bourbon they are discovering the ingredients.
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>> people want more variety. but can you continue to develop new markets? you have an overseas but what will you do? >> overseas there are markets that have not discovered bourbon via. we have innovation with a different finish it is an opportunity to make the product to get different types of profiles. >> i appreciate it. we have the cake opener and drink it from the beryl if i don't make sense that is the story. dagen: i saw that this morning. >> be careful all his is not
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too much water down. dagen: i can tell by the color 100 yards away. connell: our expert opinion. now you're back from the exchange floor nicole petallides. >> look bad apple in particular with the samsung galaxy is out but this is up one .7% that as scrolling technology but look at sony that is jumping today after having a great year so far and also the smart phone activity it's been how that would be beneficial through
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2014. dagen: china wants to talk cyber security. connell: more of "the business of vice' now legal in colorado but alatas banks want to do business with companies in this sector. capitol hill wants to make changes. ♪ ♪
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>> 22 minutes past the hour the vatican is clearly and firmly denying accusations that both france's stayed silent during the dirty war 1976 through 1983 they ordered the murder of 30,000 argentinian. critics say he was said jesuit leader of the new pope failed to protect priest to challenge the military dictatorship. it is the anniversary of the syrian revolution of rebels taking the streets in protest in today with the
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death toll there 70,000 more than 1 million refugees the syrian crisis continues to get worse. the violin played on the deck of the titanic has been found and authenticated with the most significant artifacts the rosewood filing and discovered in an attic in england could be auctioned off soon. connell: "the business of vice' coverage today the marijuana bill in congress will open doors for banks to improve the federal budget. now add of boulder colorado joins us right now and you're at the forefront the legalization why at the federal level? >> would get the budget
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implications in a recent study indicated overwintered billion dollars of savings and a revenue federally by allowing the states to legalize. there is a conflict between state and federal statute which we are trying to resolve. connell: if the business in colorado says it needs a loan that is in the marijuana business, what is happening? >> the major banks reject them and do not allow legal dispensaries to open a bank account they are afraid of the fed's cracking down to facilitate transactions to get out of the business to
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give them no window to get back in the cartel's to break into the marijuana business. >> the earlier they said it is more dangerous than alcohol you mention the prohibition comparison with more crime. with 17 point* $4 billion is that the argument used the most? >> it is highly flawed. said it is prohibited so people do use it. alcohol was prohibited that was repealed. people used marijuana while it is legal -- a legal so when not regulate and our society to benefit. of course, they're all for
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bad for people's health but so is pizza. we don't have the nanny state. so let's do it legally. connell: then we know where you stand with our soda. >> whatever size you want. [laughter] the congressmen from colorado. thank you. dagen: new developments of cyber security. china says that country is open to talks for ways to protect us all up to seven more problems for carnival. another ship back at the dock due to power problems. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other,
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dagen: china now wants to be a helper. they want to talk cyber security with the united states. the latest on the cyber threat and your money, coming up.
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samsung's new phone unveiled last night. what kind of problems this could create for apple. carnival has problems with another one of its ships. connell: let's go to nicole petallides. nicole: we talk about teenage retailers. many of these retailers have given forecast soft numbers. aeropostale is one of the ones we are featuring today. they are under pressure. they had to slash prices. they are blaming the weak economy. their sales are down by double digits. a quarterly loss going forward. they have been losing out to their rivals, american eagle and
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abercrombie. aeropostale was outpacing abercrombie year to date. back to you. connell: thank you, nicole. we are going to update our coverage now on the cyber threat. the chinese government wants to open cyber security talks with the united states. this just came out today. china resolutely opposes hacking in any form. they would like to communicate with the united states about cyber security. this all coming on the heels of a phone call made between president obama and china's new president. the two leaders agreed to maintain frequent and direct
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communication. moments ago, white house officials told our old peter barnes that jack lew will press china on the issue. he will travel there next week. here is what jack lew had to say. >> i can tell you there has been no change in policy. we have very high standards offer tech in policy. we are going to continue to protect americans as we go through the process as we have to protect them against terrorist threats. connell: adding to all of this, microsoft executive, bill gates summit adding to all of this. you have to really look at what we value feedback system has and the cyber world today has a lot more investment to make to have the right resiliency. we need to do more, says
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mr. gates. we have been following this throughout our coverage. all the stocks are moving lower. dagen: colorado's marijuana tax bores issuing recommendations this week. voters approved this measure back in november. we have a former dea administrator and member of the amendment this 64 task force with us. the world you are laying out, is it really to keep the federal, the fed away from the state and keep the dea from and forcing the and federal drug law? >> thank you for having me,
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first. the primary goal of what we are doing is to allow adult 21 years and older access to regulated and controlled marijuana. obviously the recommendations have been put into account. the concern that our government has expressed about teenage use and the movement of marijuana outside the state of colorado. that was certainly in our minds. the focus was on what the will of the voters was. dagen: these are just rules. ultimately, will this go to a vote, christian, later in the year to decide exactly how the law is implemented? >> there are recommendations that are being given to our legislature. dagen: peter, what you know about these recommendations and
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these rules laid out, do you think it will keep the federal government and dea out of the state? >> well, first of all, the proposals that have come forth from colorado are something that no other country in the world has done good that is to legalize the cultivation, distribution and sale of marijuana. it is a major problem for health and safety. the 21 and older provision just made a great deal more of marijuana will be available. you will have major problems in the workplace, you will have major problems on the highways, this is a chart of what has happened in the last three-five years in colorado. these are drivers who have been involved in a fatal car accident
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who tested positive for marijuana. it has almost tripled from 21 t 52. enforcement, if you have legalization of marijuana, they will availability. you will have people who are using marijuana. dagen: make your last point and then i will let christian respond. >> is a myth. the voters of colorado did not have an even balance. they got outspent. dagen: christian, i want you to
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respond. he covered a lot of ground. go ahead. >> first of all, no one is saying it is a harmless substance. people are just saying it is less harmful than alcohol. if health and safety is your focus, why would you go against these voters. we put in protections for employers. you mentioned 19 years of age of people purchasing it. we will make sure every protection that we have for alcohol and substances are put in place. the regulated market is the best place for this. your group of people who are a
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smaller number of people every year that believe the prohibition of marijuana is now appropriate compared to regulation. the voters have spoken and we will move forward. dagen: you are the former administrator at the dea, peter, do you believe the federal government will go into the state of colorado and continue to enforce the law? >> i think this will be overturned by the justice department or federal court. 95% of americans do not use marijuana. marijuana stays in the body about two-three weeks when it is used. it has a staying power that is take one drink of alcohol.ou >> this is just a misstatement. >> it is true.
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>> the non-active ingredients will stay in your body so you can be tested for it for a longer period of time. dagen: i think we have -- gentlemen. >> the food and drug administration does not approve marijuana as safe and affect if. don: that is schedule one for political reasons. dagen: gentlemen, i have to end it there. you both brought different sides to the argument. you both came loaded. thank you so much. we shall see. again, it is not over by any stretch of the imagination. connell: more business advice coverage coming up.
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a lot of people talking about themselves new phone. we will see what kind of threat it may end up being to the iphone. dagen: more on that latest incident for carnival. the ship docked because of problems. ♪ friday night, buddy.
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♪ visit floodsmart.gov/pretend to learn your risk. >> i am lori lori rothman with your fox business brief. even at the pentagon faces budget cuts, performer troops will volunteer voluntarily. it requires only that a person serves in uniform and was honorably discharged. new video game products fell in february. the group dropped 25% from the same time last year.
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ford fell short of its key target. that is your latest look at business from the fox business network. giving you the power to prosper. ♪ shapiro ] at legalzoom, you can take care of virtually all your imptant legal matters in just minutes. protect youramily... and launch your dreams. at legalzoom.com we put the law on your side. how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much
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that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. dagen: i love me some neon. the business of life continues all day here on fox business. a multi- billion-dollar industry. liz: dagen and connell, this is one of the busiest in the united states. the penthouse 3d studios. they turned out some 200 films last year. come on inside. this s the wardrobe room.
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when you think of pornography, you think about naked people. oh, no, it is all about costumes. lingerie, costumes, etc. we will be showing you a scene being shot. we will show you the business of pornography and adult entertainment. here is the wall of shoes, as you can see. you wonder how big is this business. the retail business alone of adult pornography and adult retail, take a boat, 13%. 67% of adult entertainment is bought by women and 33% by men. internet pornography is about 3 billion of that. people argue that it was the
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adult entertainment industry that drove. at any given time, per second, 28,000 people are on the internet looking at this. penthouse has a whole bunch of websites. coming up and all through the day, we will be live from different parts of this studio here at penthouse in california. we have kelly holland. she is the managing director of penthouse entertainment. a top executive that used to work on documentaries, believe it or not. we will be talking about 3d growth. coming off at 3:00 p.m. eastern, the iconic name, larry flynt of
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"hustler." this is all exclusive. never before have tv cameras been allowed behind the scene. wait until you hear his prediction about his iconic magazine "hustler" that has been around for four decades. by the way, he is about to make $80 million in profit on a single sale of a business. by the way, 2:00 p.m. eastern, james dean is a crossover pornography *. he is now being asked to be in a lot of movies on the regular side, not just pornography. the 3d effort here is one of the 3d covers that they put out. it is something they will believe will drive the future of this industry. back to you. i will see you in just an hour. dagen: i know what business that is he is selling.
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i will not give it away. that is terrific stuff. cannot wait for that. liz claman. connell: liz claman. much more throughout the day from california. the business covers with dennis kneale and cheryl casone. they are looking at the gambling business. they will be taking investment questions in this area. go to, send in questions via twitter. the app fox business account. you can do that right now, if you would like. dagen: samsung meantime debuting its newest smart phone, the samsung galaxy s4. connell: shibani joshi got a chance to take a look at it.
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we talked yesterday about whether or not this is an iphone killer. shibani: i think this can work. the geeks out there, thh phone geeks, just like myself, they were excited about this unveiling. they showcased the brand new smart phone that everybody wanted to see. the samsung galaxy s4. part tablet, part phone. it is now eyes that do the
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moving. this phone, across the board, being called heavier, dancer, just a clunkier iphone. not too impressed. is this the iphone killer? >> we try to make sure that we do not characterize our device with competitors. we are trying to demonstrate the very unique features of it. shibani: the phone is available at the end of april. shares moving higher today. i think that says it all. connell: a lot of people are talking about it for better or worse. dagen: third time is not the charm. at least not for carnival. it is dealing with another ship
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having mechanical problems. we head to miami live for the very latest. ♪ thank you orville and wilbur... ...amelia... neil and buzz: for teachings that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousanof us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it.
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dagen: two carnivals latest headache. another cruise ship reporting problems. the third and less than two months. >> that is right, to troubled ships and two days. they are moving at a very slow pace at 14 miles per hour. they do have power, though, and
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the restrooms are working. the dream has been stuck in saint maarten. people have been flown home from the place. carnival stock is still up and profits up for the quarter. analysts say it is a very resilient industry. back to you. dagen: steve, thank you very much for that. connell: it is our day long look at the business life. cheryl and dennis are ahead talking about betting on gambling stocks. dagen: pushing legalized online poker and how you can be dealt in. ♪
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♪ dennis: it is the business of vice. i am dennis kneale. cheryl: hello, everybody. i am cheryl casone. all this hour, how you can make money on gambling stocks and more. dennis: former senator, al d'amato, pushing to legalize online poker. how you could be dealt in. stock traders turning into a professional poker player. cheryl: tweet your questions. we will get your answers on the air later on the show. your chance to be on tv today. dennis: first, top of the hour, time for stocks now.
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nicole: that was a pretty hot top of the show. lots to talk about today. clearly, we are not too far off of the all-time highs. we have eight record all-time high closes for the dow jones industrials. pulling back some. the s&p 500 also slightly lower. the attack and drug stocks continue to do well. jpmorgan is under significant pressure. you do see jpmorgan under some pressure today. we do see oil and gold gaming today. the dow is down 32 points. back to you.
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cheryl: thank you so much. we will see you 14 minutes from now. jamie dimon managed to escape it. dennis: rich@sin is on capitol hill watching it all. rich: this has been going on for more than two hours. >> in fact, with regard as to how it managed the derivatives which are the subject today's hearing, it seems to have developed a business model based on that notion. the notion that they are too big to fail. >> i do not think it is too big to fail. i think there is further work that needs to be done to demonstrate and document that.
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i think it is something that needs to be demonstrated to everyone's satisfaction. rich: much of the focus in this hearing has been on the former chief investment officer here. she basically throws this entire situation on the london office. jamie dimon is not here today. he was not invited. they already heard from him last year on capitol hill. the key witnesses are before the committee right now. they say they are not ruling out if this hearing leads to a place where they want to speak with jamie dimon, they will ask him to testify. also the same thing with referring this to the justice department. apparently, oversight examine nader examiners said they refer
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to them with stupid. cheryl: it is always entertaining, these panels, at some point. obviously, there is some pressure. jpmorgan, i am curious what you think here. they did get approval to up their dividends. maybe they are out of the crosshairs now. >> they increase the dividend. they announced the buyback. both of which they requested. there was no issue of asking for more than what they got. i think the headline risks really revolving around what your reporter was just talking
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about down in washington. the other issue is jpmorgan, along with some of the other large cap thanks, have had a very large run in the last couple weeks. cheryl: let's talk about goldman sachs. they have been kind of in the middle of this thing. >> in our view, it was probably the most negative surprise, if you will. pbt has been historically known as a very high quality name with quite strong eernings trajectory in a very high growth part of country. i think this issue will be a temporary issue. i think for the intermediate term, maybe there is a headwind.
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cheryl: we do not know what they were asking for and they can go back and reevaluate the plan. let's talk about bank of america. >> first of all, the 5 billion was more that we believe the street was expecting. our estimate was about a $2 billion buyback. they clearly exceeded that. we believe our number was roughly in line with expectations. that shows they have gotten a little more aggressive in terms of capital returns, but also, it shows that the government is loosening the reins just a little bit. we think that is a positive signal for investors. cheryl: also regional financial. with that company, in particular, they did get three cents a share. getting some attention this
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morning. >> a big player in the southeastern market. the dividend was in line with our expectations. that in and of itself was a big surprise. the buyback was announced that a hundred $50 billion. that was relative to our $100 billion expectation. cheryl: at one point, do you think they will ever be able to back off? will we get away from that? >> i think it will be a while before the banks would even be able to think of doing anything on their own.
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the regulators probably needed to be doing these stress tests a long time ago. cheryl: a little behind on the curb. thank you very much. it is good to have you on the show. dennis: the business of life. cashing in on online gambling. some public companies are ready to jump in. we have former senator al d'amato. chairman of the poker players alliance. 10 million americans playing online poker. we have three states that say it is okay so far. those states who are opposed to it, they can opt out. you know, you want good regulations. you want to see that that games are fair. by the way, there is lots of
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revenue that could be raised. we are using the internet for everything. let people play. it into the 21st century. they are playing throughout the world on the internet. have regulatory system that is rather easy to set up. federal government could raise to to $3 billion a year. dennis: are the incumbent casinos, the giants, are they an obstacle online or are they an asset? >> in general, they have been
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up. they see it coming. they see the move taking place. you will see them beginning to get involved. they will have to get involved otherwise it will take place state-by-state. i want to commend the governor of new jersey. dennis: it says i can open up a gambling parlor online. >> it is not a bad thing. it makes it an easier job for them to see people who are in this business have already met certain standards. i think it is a good way to start this. you want to make sure that you have replicable operators. dennis: on its own, it went after the three most popular websites for poker. it sees money.
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you wrote back then that the justice was making -- has justice eased off now? >> the law, itself, is one that is full of loopholes. it was never intended to prohibit the kind of thing that we see today on the internet. they are talking about the utilization of a law that was passed back then. i think justice is beginning to get it. by the way, just as did the right thing after going some of those companies who took money that belonged to the players and distributed it within the company. dennis: the big casinos, they take your money anyway.
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thank you for being with us, senator al d'amato. cheryl: thank you, senator. carnival nightmare. the third ship in less than two months. dennis: samsung latest phone. is it an iphone killer? business of vice continues. tweet us your questions. we will get you answers later in the show. ♪ all stations come over to mission a for a final go.
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cheryl: quarter after the hour. time now for stocks now with nicole petallides. nicole: boeing is doing everything they possibly can to get the 787. liner of in the air once again. looking here at boeing stock. there is a one-year chart. when you charge it back, it goes back to the middle of 2008. frustrated investors are probably happy to see it back. back to you. dennis: thank you very much, nicole. sam songs later -- samsung's
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latest phone. shibani joshi has more. shibani: this event was big. it was flashy. it was loud. it was kind of cheesy. it was kind of gaudy. sam songs spending more than $400 billion in ad spending yesterday. there was an open bar, food, drinks, and orchestra, skits. this thing was flashy and a way i have never seen it before. all of this to unveil the new samsung galaxy s4. heavier, fatter and less roof
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then iphone5. it is a smart school. you can tell the device to move. you gesture your hand to move and control the foam. dennis: i want to push the buttons. shibani: i have been too many events, we are in a new era of technology.
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this is not what steve jobs did, this is the new way of doing things and it is big. dennis: thanks a lot. shibanishibani josie. cheryl: rolling the dice on gambling investments. you can tweet us your questions. we will get you answers later on in the show. dennis: speaking of questions, the jeopardy answer who is not lower. we will give you the question ahead in the media and it. cheryl: as our daylong focus of business of vice continues, we will head to liz claman at penthouse studios. liz: maybe if you get one of those new samsung's, what are you going to watch? perhaps, one of the sea and that they are shooting here at the studio.
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we will show you a scene along with an executive who make sure that these 3d films are turned out at a pace of 200 a year. they are building a pool, as we speak, for one of these scenes. ♪ ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ chdren laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade.
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ah. 4g, huh? verizon 4g lte. 700 megahertz spectrum, end-to-end, pure lte build. the most consistent speeds indoors or out. and, obviously, astonishing throughput. obviously... you know how fast our home wifi is? yeah. this is basically just asast. oh. and verizon's got more fast lte coverage than all other networks combined. it's better. yes. oh, why didn't you just say that? huh-- what is he doing?
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>> 23 minutes past the hour. the vatican is clearly and firmly denying accusations that both francis stayed silent during argentina's dirty war. the dictatorship there ordered the murder of over 30,000 argentines. while he was a leader, the new pope failed to protect priests the challenge the military dictatorship. -- former italian prime minister is charged with tax fraud and in a separate trial having sex with a minor. today marks the second anniversary with this theory and revolution. today with the death toll nears 70,000 in more than a million
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refugees, the u.s. warns the crisis there continues to get worse. that is your fox news minute. ♪ cheryl: l.a. is the movie capital of the world. paramount, 20th century fox and warner bros. are not the only ones making money. dennis: liz claman is live at one of the top ten sites for location suiting in the adult entertainment movie business. liz: this is penthouse 3d studios. 38,000 square feet. we have our crew here from fox business. we will be filming the scene here with 3d cameras. this is top-of-the-line, never before seen equipment except for here. these are panasonic cameras.
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they have a scene here where filming. it is just one of 17 films it will turn out this week alone. we have been managing director of penthouse entertainment. this is a working movie studio and how big is the revenue that comes through penthouse? you have 11 channels. >> in the penthouse world, broadcast is the big revenue generator. liz: this is the first time any news cameras have been allowed in here. has this post along the adoption of 3d television? >> i think so. i think for three delta it was a big gamble. we launched two channels live in europe two years ago.
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it was quite early on in the process. we have been very successful with them. the big game changer on this is when you can dump the glasses. when you go to glasses free technology and 3d becomes this you big u.s. event where you are just watching tv, i think that is where we really need to go. that is inevitable. liz: it is being shot in 3d. it will also be available in 2d. i want you to flip around. you built an entire elevator and you have a great dane. [ laughter ] liz: what are you doing here, as far as building the scene? >> this will be applied in two ways. this will be the opening of a penthouse movie. we will probably develop it into
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a series. liz: kelly, the big revenue driver could be interactive. meaning interactive chats where you pay to actually have an actors via webcam. how big could that be for penthouse? >> let me tell you how offer to this i am. sitting on an earnings call and listening to the revenues, i thought how can i adapt that into broadcast? we have launched into europe just to test it with our licensing. we think that is the future. liz: the managing director of penthouse. thank you very much.
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this used to be a washington mutual check printing thing. it was the adult entertainment business that was able to come in here take the space and is employing thousands of people here in california. we want to thank the actresses and the handler here. it is a little bazaar here. as we finish up, they are continuing to put these out. cheryl: we will see you very soon. dennis: sorry there was not time to interview tte actresses. wings and beer. the food or restaurants are going to hungary. melissa and lori talk with mike pruitt. that is at 1:00 p.m. eastern right here on fox business. cheryl: this is an embarrassing
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situation, to say the least. another carnival cruise ship having problems. nicole petallides will take a look at the stock coming up on the floor of the new york stock exchange. dennis: we want to hear from you. roll the dice on gambling investments. tweet us your questions. we will be answering your inquiries. ♪
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>> time for stack -- stocks
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with nicole petallides at new york stock exchange. carnival having problems again. >> the third ship with carnival cruise lines in two months. the stock is down 2.5%. the carnival legend will now ms. all scheduled stops throughout the caribbean and head back to port in tampa and is doing so at 40 m.p.h.. get another problem and difficulties for carnival that already had the triumph problem with mexico also the dream that had to fly passengers back from. dennis: our next guest says
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the big frontier for gambling could be a madrid. our next guest joins us now. of now people talk about euro vegas. >> billionaire adelson is making a big bets building days 17 building convention center, hotels and 36,000 rooms calling year-old vegas. it is ironic that a country decimated by speculative real-estate market makes another speculation to recover from the financial crisis. dennis: the stock is down 10% also the philippines make a push for gambling?
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>> tamara the philippines open a diverse casino mecca rebel macau. the multimillion-dollar project and competing for the same vip clientele with macau. dennis: let's what -- checking with twitter. us with the passing of fully legal gambling in the u.s. will that cut into casino revenue? >> cliff is possible online gambling could be a $12 billion industry. i think here is room for both. dennis: although the one to legal online at gambler poker playing but to have
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devil license. >> what is the best in to invest in? >> your firm does not want you to recommend specific stocks the jails, guns, of gambling, clicker what is the best? >> i think the casino gambling industry is by far the best to invest with the greatest growth potential and macau is intact here and the best long-term investment. dennis: loss figure stands, wynn resorts are down its 10% i am not ask you to recommended that why is the lesser known brands up 50% of the others are down? >> noble grounded to tame it is a play and the revenues have been astronomical over the last couple years.
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you are looking at an area $38 billion market. there is not massmarket gamblers and the profit margins are greater. 40% compared at the 10% vip. >> there's always a large market for the vice is it an ethical investment? i thought if it is legal it is ethical. >> that is up to people to judge themselves. for gambling perspective, singapore is grappling with this issue because of the rise of problem gambling. they care about the social cost and they do sayings to
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curb the effects. other countries don't concern themselves because the culture is deeply rooted in casino gaming. dennis: and singapore wants outlawed chewing gum. there's that. [laughter] thank you. cheryl: the answer tuz said jeopardy clear. from wall street to vegas we have 2d one negative "the business of vice" continues. ♪
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>> your fox business brief additional street the 10 and said should run on the dow was in jeopardy. also backing off from its high of on the flip side directv is on the rise after satellite tv provider pulled out of bidding from the brazilian unit. decided against selling the unit after not being able to get the $9 billion and was
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looking for to help reduce debt. texaco will disclose all lobbying and political donations. and this is in exchange for the new york state comptroller withdraw of the shareholder resolution calling for disclosure. this is the latest from fox business, giving you the power to prosper.
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thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to t finest comforts above. we're not simply saluting history... we're making it. >> from rookie to professional rekeying into point* $5 million, so what is theetake from the card shark of las vegas. you are a great story. you took a break from
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derivatives and ended up in vegas? >> when i left wall street i had no idea i would be a professional poker player. i wanted a change. even if you do something you love you want a change of pace. i was very fortunate i started to wind right with it gave me confidence. cheryl: last time you were here we talked about london wales and it is in the news again with jpmorgan. right there next to me was jamie diamond i would joke i would be on the cover for says diamond did default risk management i was scared cheryl: what type of skills to take from a derivatives trader how does that translate into a poker?
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>> really the same type of skill that makes a good derivatives trader makes a good poker player with risk-management. you are never smarter than the market in those who do lose money. the market goes against them or put up a big position. so i became trained to not let the ego get the best of me and make decisions based on current information. you thank you have the best and by your opponent is not folding and showing strength to do have to adjust your views. it is about analytics also probability and statistics but first and analytical skills. cheryl: was reading your
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wearing a pink shirt then new one. with. >> actually it was a pink pants. [laughter] that was the highlight of my career. cheryl: obviously you are in this sector professionally but is that a good investment in general? casinos? >> the lot of people see the money i have made and think they want to get into a poker. i am very different. i made my money on wall street i did not have to rely on poker to pay rent. people coming out of college going into a poker, i have respect / aberration but i could not do it.
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cheryl: but those junior traders have the same mentality. >> if you lose money used to get the base salary and get a bonus but with a poker you lose money. make cash then go into a poker. cheryl: thank you and your. dennis: every 15 minutes we have stocks with nicole. >> some grabbing attention will get krispy kreme doenitz and errol post out. -- errol post owl and krispy kreme doughnuts 2.1% the story behind these although they did get the outperform they did to now with earnings it is below
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estimates as they expect higher cost of it hurts the bottom line also believe. also look at aeropostale to the downside several analysts cut targets with the weak economy with a sharp drop of sales. back to you. cheryl: we will get back to. dennis: and veronica mars ran three seasons before it was killed 2007 but now it will be made into a feature film. raising over $2 billion in a single day on kicks starter.com. they give guests thanks to its equated sec regulations but that could change.
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smashhmove stu's saturday's that is wear shows go to die. matt lauer has a problem viewers believe him for the ouster of a and curry. what to do? played an elector back the controversial anchor is quebec at the top of the west to replace him 2016. cheryl: state worker furloughs backfire. shocking. dennis: 2d continues "the business of vice" continues while puffing on cigars. ♪
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>> a lot of neon. the tobacco industry on fire. but it is still an idea and robert cray is that the lone wolf cigar company in santa monica. >> -- chuck norris was the
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original owner with jim belushi. there no longer partners but there's 303 billion cigarettes sold, 13 point* 3 billion cigars. these are cigarettes that have more than doubled over the last decades. fewer people are smoking. 19% are smokers according to the cdc down by half of 1990. but the margins are higher and the stock represents the gains exceeding the returns of the s&p 500 when you reinvest the dividends. those are currently better than 5% you could see it
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well outpaces the s&p 500 over the decade. cheryl: and the west coast manager rebound pushes for $40 billion water project picture restorer the sacramento delta up. but it could take years and doesn't know what it will work. to begin construction in the next year but critics say you have to wait. today on the third eight making it legal for marijuana for recreational use. the bill may be introduced today but already there's opposition to say and nevada is insane to open itself up to a federal fight. your west coast minute. all week join us for a special series that this season may be the most challenging ever.
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where are the loopholes? are there breaks you need to know about? fox business will prepare you for the shock of your life. exclusively on markets now. dennis: and the "the business of vice" continues wall street meese pornography. truly desperate know on the firm that financed with a controversial names in the business. cheryl: 25 million eligible to purchase marijuana and a man who is profiting to make it more accessible on the of rwanda spent -- marijuana spending machine. coming up next.
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